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 Replies: 48 / Views: 4,329 |
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Pillar of the Community
Canada
1411 Posts |
Whatever silver I can easily sell to my local dealer when I need to...
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Pillar of the Community
United States
3540 Posts |
barryg - THANK YOU. That IS very, very true. The PM market for the past three + years is completely unpredictable. basebal21 - HUH? Silver is at the lowest point today since the beginning on October 2012. http://www.midstatesrecycling.com/p...1/2012-10-31High of $35 on 10/4/2012 and closed at $32 today. So, the $2 over spot silver purchased on 10/4/2012 is now being held at a loss of $5 per ounce as of today....IF you can sell at spot. |
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Bedrock of the Community
13014 Posts |
Right showing that it can move dollars in a few days which can happen both ways for fast profit if thats what youre doing and time it right. It doesn't take it years to climb a few dollars to turn it around. That comment was in response to when you said you have to wait that long to break even and I was pointing out with how it can move thats not the case.
If you look at the history of it theres a spike pretty much every decade where you could turn it around for profit, but you cant have bought everything during the spike for that to work. I'm not stacking right now because I dont like the price in terms of profit potential but if it gets back down to where its been the last 50 years Ill stack big time. Right now I just get a little bit of bullion I like and stick mostly to numismatic silver. But like barry pointed out theres a lot of other reasons people are stacking and most dont seem to be trying to make a quick buck on this forum
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Valued Member
United States
456 Posts |
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basebal21 - HUH? Silver is at the lowest point today since the beginning on October 2012. If the only time frame you are willing to consider is a few weeks, then of course you won't make much (if any) profit. Look further back than the beginning of October. Silver was below $28/oz as recently as 2 months ago. |
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Pillar of the Community
United States
1590 Posts |
I know lots of dealers that buy 90 percent at a fixed price, right now about 20 to 22x; depending on the dealer. I know some dealers that are still only paying 16x. And yes; it does not matter if the morgans you are buying are 1921P's or 1885 CC's.
Sure some of us have a conscious and will gladly pay a premium for a valuable coin; whose value, the seller had no idea of. But my experiance is that most dealers dream of those buys and the massive profits they make from them.
To be truthfull as a dealer I have sat this current price upswing out. I am only buying those lots that have numismatic value. I am no longer trying to ride the PM roller coaster; for the reasons Acloco gave in his post yesterday at 9:50pm
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Pillar of the Community
United States
3540 Posts |
basebal21 - Ah...gotcha.
In the BIG realm of this....I wish all of us had a time travelling machine. :)
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Pillar of the Community
United States
4008 Posts |
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In the BIG realm of this....I wish all of us had a time travelling machine. :) Oh, yeah! Imagine the gold and silver you could snag via taking some anti-biotics or Kevlar cloth back in time and selling them to TPTB of those days.  |
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Valued Member
Canada
442 Posts |
I bought a bunch of those new JM 1 oz bars. they look swell, and the premium was just right. Lately I been finding my purchases have been too... numismatic. I was giving my spiel to the wife about how silver is money and why its better to keep our savings in silver, and she says "So, if we have an emergency and need money asap, which ones are you going to sell first?" I must've looked at my collection of wildlife series, pamps, and Perth Mint lunars for way too long before she said "that's it!! no more fancy coins!". Oh well, the bars will still have their appeal! |
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Bedrock of the Community
13014 Posts |
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In the BIG realm of this....I wish all of us had a time travelling machine. :) Agreed, I think back to high school and college and all the Gold coins I could have gotten even if just 1 a month or every other month and how much they would have appreciated in value |
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Valued Member
United States
376 Posts |
Back on topic! Lol
I would finish my small 1/10th oz incuse indian roll, and start up new rolls of quarters and dimes, & and then maybe ill finally be able to focus on my CSM roll, if silver were to drop below $30 again.
Is it bad that I get excited for my future purchases when I still have a few orders on the way? lol
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Pillar of the Community
United States
3540 Posts |
colu41 - believe you are on step 3 in the program. :)
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Pillar of the Community
Canada
1723 Posts |
I will do the same thing I do every night... TRY AND TAKE OVER THE WORLD!  |
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Pillar of the Community
Canada
3692 Posts |
But Ed, if you did that you'd be burned at the stake for witchcraft.
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Valued Member
United States
376 Posts |
Thanks for the info acloco. Lol. I may not have 100s of ozs in my stack yet but I sure am picturing the day before its even here.
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Pillar of the Community
United States
4008 Posts |
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But Ed, if you did that you'd be burned at the stake for witchcraft. Perhaps. But if I really was a witch or some other creature in league with the devil, wouldn't I be more than able to vanish in a puff of smoke or perhaps put a spell on anyone who tried to harm me? |
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Replies: 48 / Views: 4,329 |
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Posted 10/16/2012 12:06 am
